Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Apr. 30, 2015 | Jun. 08, 2015 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 30-Apr-15 | |
Document Fiscal Year Focus | 2016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | URBN | |
Entity Registrant Name | URBAN OUTFITTERS INC | |
Entity Central Index Key | 912615 | |
Current Fiscal Year End Date | -30 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 128,131,272 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Apr. 30, 2015 | Jan. 31, 2015 | Apr. 30, 2014 |
In Thousands, unless otherwise specified | |||
Current assets: | |||
Cash and cash equivalents | $176,931 | $154,558 | $191,825 |
Marketable securities | 96,626 | 104,246 | 149,796 |
Accounts receivable, net of allowance for doubtful accounts of $767, $850 and $1,986, respectively | 54,283 | 70,458 | 59,267 |
Inventories | 397,998 | 358,237 | 349,045 |
Prepaid expenses, deferred taxes and other current assets | 119,083 | 121,618 | 103,097 |
Total current assets | 844,921 | 809,117 | 853,030 |
Property and equipment, net | 899,324 | 889,232 | 836,244 |
Marketable securities | 83,348 | 104,448 | 175,694 |
Deferred income taxes and other assets | 89,763 | 85,944 | 80,297 |
Total Assets | 1,917,356 | 1,888,741 | 1,945,265 |
Current liabilities: | |||
Accounts payable | 145,379 | 156,090 | 172,515 |
Accrued expenses, accrued compensation and other current liabilities | 175,258 | 197,650 | 189,585 |
Total current liabilities | 320,637 | 353,740 | 362,100 |
Deferred rent and other liabilities | 208,274 | 207,032 | 196,760 |
Total Liabilities | 528,911 | 560,772 | 558,860 |
Commitments and contingencies (see Note 10) | |||
Shareholders' equity: | |||
Preferred shares; $.0001 par value, 10,000,000 shares authorized, none issued | |||
Common shares; $.0001 par value, 200,000,000 shares authorized, 131,543,388, 130,502,864 and 137,651,372 shares issued and outstanding, respectively | 13 | 13 | 14 |
Additional paid-in-capital | 24,593 | ||
Retained earnings | 1,376,159 | 1,343,383 | 1,384,671 |
Accumulated other comprehensive (loss) income | -12,320 | -15,427 | 1,720 |
Total Shareholders' Equity | 1,388,445 | 1,327,969 | 1,386,405 |
Total Liabilities and Shareholders' Equity | $1,917,356 | $1,888,741 | $1,945,265 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Apr. 30, 2015 | Jan. 31, 2015 | Apr. 30, 2014 |
In Thousands, except Share data, unless otherwise specified | |||
Accounts receivable, allowance for doubtful accounts | $767 | $850 | $1,986 |
Preferred shares, par value | $0.00 | $0.00 | $0.00 |
Preferred shares, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred shares, shares issued | 0 | 0 | 0 |
Common shares, par value | $0.00 | $0.00 | $0.00 |
Common shares, shares authorized | 200,000,000 | 200,000,000 | 200,000,000 |
Common shares, shares issued | 131,543,388 | 130,502,864 | 137,651,372 |
Common shares, shares outstanding | 131,543,388 | 130,502,864 | 137,651,372 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 |
Net sales | $739,010 | $686,310 |
Cost of sales | 492,589 | 447,799 |
Gross profit | 246,421 | 238,511 |
Selling, general and administrative expenses | 193,367 | 178,690 |
Income from operations | 53,054 | 59,821 |
Other expense, net | -2,121 | -344 |
Income before income taxes | 50,933 | 59,477 |
Income tax expense | 18,157 | 21,999 |
Net income | $32,776 | $37,478 |
Net income per common share: | ||
Basic | $0.25 | $0.26 |
Diluted | $0.25 | $0.26 |
Weighted-average common shares outstanding: | ||
Basic | 131,202,740 | 144,075,666 |
Diluted | 132,836,144 | 145,906,544 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 |
Net income | $32,776 | $37,478 |
Other comprehensive income: | ||
Foreign currency translation | 3,145 | 2,868 |
Change in unrealized losses on marketable securities, net of tax | -38 | -180 |
Net current-period other comprehensive income (loss) | 3,107 | 2,688 |
Comprehensive income | $35,883 | $40,166 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 |
Cash flows from operating activities: | ||
Net income | $32,776 | $37,478 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 35,043 | 34,477 |
Benefit for deferred income taxes | -1,074 | -6,393 |
Excess tax benefits from stock option exercises | -5,495 | -70 |
Share-based compensation expense | 4,113 | 4,576 |
Loss on disposition of property and equipment, net | 281 | 171 |
Changes in assets and liabilities: | ||
Receivables | 8,081 | -3,986 |
Inventories | -38,995 | -56,761 |
Prepaid expenses and other assets | 14,036 | -1,162 |
Payables, accrued expenses and other liabilities | -40,899 | 16,155 |
Net cash provided by operating activities | 7,867 | 24,485 |
Cash flows from investing activities: | ||
Cash paid for property and equipment | -31,815 | -38,555 |
Cash paid for marketable securities | -55,760 | -169,707 |
Sales and maturities of marketable securities | 80,942 | 485,375 |
Net cash (used in) provided by investing activities | -6,633 | 277,113 |
Cash flows from financing activities: | ||
Proceeds from the exercise of stock options | 40,268 | 798 |
Excess tax benefits from stock option exercises | 5,495 | 70 |
Share repurchases related to share repurchase program | -17,306 | -353,315 |
Share repurchases related to taxes for share-based awards | -7,976 | -61 |
Net cash provided by (used in) financing activities | 20,481 | -352,508 |
Effect of exchange rate changes on cash and cash equivalents | 658 | 677 |
Increase (decrease) in cash and cash equivalents | 22,373 | -50,233 |
Cash and cash equivalents at beginning of period | 154,558 | 242,058 |
Cash and cash equivalents at end of period | 176,931 | 191,825 |
Cash paid during the year for: | ||
Income taxes | 9,531 | 14,080 |
Non-cash investing activities-Accrued capital expenditures | $28,903 | $41,542 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Apr. 30, 2015 | |
Basis of Presentation | 1. Basis of Presentation |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These condensed financial statements should be read in conjunction with Urban Outfitters, Inc.’s (the “Company’s”) Annual Report on Form 10-K for the fiscal year ended January 31, 2015, filed with the United States Securities and Exchange Commission on April 1, 2015. | |
The Company’s business experiences seasonal fluctuations and realizes greater net sales and operating income from August 1 through December 31 of the fiscal year (the back-to-school and holiday periods). Historically, and consistent with the retail industry, this seasonality also impacts our working capital requirements, particularly with regard to inventory. Accordingly, the results of operations for the three months ended April 30, 2015 are not necessarily indicative of the results to be expected for the full year. | |
The Company’s fiscal year ends on January 31. All references in these notes to the Company’s fiscal years refer to the fiscal years ended on January 31 in those years. For example, the Company’s fiscal year 2016 will end on January 31, 2016. |
Recently_Issued_and_Adopted_Ac
Recently Issued and Adopted Accounting Pronouncements | 3 Months Ended |
Apr. 30, 2015 | |
Recently Issued and Adopted Accounting Pronouncements | 2. Recently Issued and Adopted Accounting Pronouncements |
In April 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update that clarifies the circumstances in which a customer would account for a cloud computing arrangement as a license of internal-use software. The update will be effective for the Company on February 1, 2016, and early adoption is permitted. The update allows for either retrospective or prospective adoption for all new transactions entered into or materially modified after the date of the adoption. The Company is currently assessing the potential effects this update may have on its consolidated financial statements. | |
In May 2014, the FASB issued an accounting standards update that clarifies the principles for recognizing revenue from contracts with customers. The update outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The update states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in the amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. Entities are required to apply the following steps when recognizing revenue under the update: (1) identify the contract(s) with a customer; (2) identify the performance obligation in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The update is effective for the Company beginning February 1, 2017. The update allows for a “full retrospective” adoption, meaning the update is applied to all periods presented, or a “modified retrospective” adoption, meaning the update is applied only to the most current period presented in the financial statements. Early adoption is not permitted. The Company is currently evaluating the adoption method to apply and the impact that the update will have on its financial position, results of operations, cash flows and financial statement disclosures. |
Marketable_Securities
Marketable Securities | 3 Months Ended | ||||||||||||||||
Apr. 30, 2015 | |||||||||||||||||
Marketable Securities | 3. Marketable Securities | ||||||||||||||||
During all periods shown, marketable securities are classified as available-for-sale. The amortized cost, gross unrealized gains (losses) and fair value of available-for-sale securities by major security type and class of security as of April 30, 2015, January 31, 2015 and April 30, 2014 were as follows: | |||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | (Losses) | Value | ||||||||||||||
As of April 30, 2015 | |||||||||||||||||
Short-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | 40,287 | $ | 42 | $ | (2 | ) | $ | 40,327 | ||||||||
Corporate bonds | 43,923 | 12 | (28 | ) | 43,907 | ||||||||||||
Treasury bills | 3,018 | 2 | — | 3,020 | |||||||||||||
Certificates of deposit | 5,426 | 1 | — | 5,427 | |||||||||||||
Commercial paper | 3,942 | 3 | — | 3,945 | |||||||||||||
96,596 | 60 | (30 | ) | 96,626 | |||||||||||||
Long-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | 46,529 | 78 | (10 | ) | 46,597 | ||||||||||||
Corporate bonds | 20,652 | 8 | (30 | ) | 20,630 | ||||||||||||
Treasury bills | 8,067 | 3 | (1 | ) | 8,069 | ||||||||||||
Certificates of deposit | 2,566 | — | — | 2,566 | |||||||||||||
Mutual funds, held in rabbi trust | 4,670 | 40 | (24 | ) | 4,686 | ||||||||||||
Federal government agencies | 799 | 1 | — | 800 | |||||||||||||
83,283 | 130 | (65 | ) | 83,348 | |||||||||||||
$ | 179,879 | $ | 190 | $ | (95 | ) | $ | 179,974 | |||||||||
As of January 31, 2015 | |||||||||||||||||
Short-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | 30,509 | $ | 41 | $ | (2 | ) | $ | 30,548 | ||||||||
Corporate bonds | 56,594 | 20 | (24 | ) | 56,590 | ||||||||||||
Treasury bills | 2,033 | 3 | — | 2,036 | |||||||||||||
Certificates of deposit | 11,127 | 5 | — | 11,132 | |||||||||||||
Commercial paper | 3,938 | 2 | — | 3,940 | |||||||||||||
104,201 | 71 | (26 | ) | 104,246 | |||||||||||||
Long-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | 42,840 | 113 | (6 | ) | 42,947 | ||||||||||||
Corporate bonds | 46,754 | 22 | (40 | ) | 46,736 | ||||||||||||
Treasury bills | 7,111 | 9 | — | 7,120 | |||||||||||||
Certificates of deposit | 3,066 | — | — | 3,066 | |||||||||||||
Mutual funds, held in rabbi trust | 3,816 | 16 | (54 | ) | 3,778 | ||||||||||||
Federal government agencies | 799 | 2 | — | 801 | |||||||||||||
104,386 | 162 | (100 | ) | 104,448 | |||||||||||||
$ | 208,587 | $ | 233 | $ | (126 | ) | $ | 208,694 | |||||||||
As of April 30, 2014 | |||||||||||||||||
Short-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | 44,522 | $ | 41 | $ | — | $ | 44,563 | |||||||||
Corporate bonds | 54,678 | 30 | (17 | ) | 54,691 | ||||||||||||
Treasury bills | 2,498 | 3 | — | 2,501 | |||||||||||||
Certificates of deposit | 23,348 | 10 | (1 | ) | 23,357 | ||||||||||||
Commercial paper | 24,678 | 6 | — | 24,684 | |||||||||||||
149,724 | 90 | (18 | ) | 149,796 | |||||||||||||
Long-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | 68,511 | 178 | (14 | ) | 68,675 | ||||||||||||
Corporate bonds | 85,583 | 168 | (31 | ) | 85,720 | ||||||||||||
Treasury bills | 15,404 | 9 | — | 15,413 | |||||||||||||
Certificates of deposit | 1,499 | 1 | — | 1,500 | |||||||||||||
Mutual funds, held in rabbi trust | 2,579 | 33 | (12 | ) | 2,600 | ||||||||||||
Federal government agencies | 1,782 | 4 | — | 1,786 | |||||||||||||
175,358 | 393 | (57 | ) | 175,694 | |||||||||||||
$ | 325,082 | $ | 483 | $ | (75 | ) | $ | 325,490 | |||||||||
Proceeds from the sale and maturities of available-for-sale securities were $80,942 and $485,375 for the three months ended April 30, 2015 and 2014, respectively. The Company included in “Other expense, net,” realized gains of $3 and $70 and a net charge related to amortization of discounts and premiums of $1,116 and $2,607 for the three months ended April 30, 2015 and 2014, respectively. Mutual funds represent assets held in an irrevocable rabbi trust for the Company’s Non-qualified Deferred Compensation Plan (“NQDC”). These assets are a source of funds to match the funding obligations to participants in the NQDC but are subject to the Company’s general creditors. The Company elected the fair value option for financial assets for the mutual funds held in the rabbi trust resulting in all unrealized gains and losses being recorded in “Other expense, net” in the Condensed Consolidated Statements of Income and not as a component of accumulated other comprehensive income (loss). |
Fair_Value
Fair Value | 3 Months Ended | ||||||||||||||||
Apr. 30, 2015 | |||||||||||||||||
Fair Value | 4. Fair Value | ||||||||||||||||
The Company utilizes a hierarchy that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach that relate to its financial assets and financial liabilities). The levels of the hierarchy are described as follows: | |||||||||||||||||
• | Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||
• | Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | ||||||||||||||||
• | Level 3: Unobservable inputs that reflect the Company’s own assumptions. | ||||||||||||||||
Management’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of financial assets and liabilities and their placement within the fair value hierarchy. The Company’s financial assets that are accounted for at fair value on a recurring basis are presented in the table below: | |||||||||||||||||
Marketable Securities Fair Value as of | |||||||||||||||||
April 30, 2015 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | — | $ | 86,924 | $ | — | $ | 86,924 | |||||||||
Corporate bonds | 64,537 | — | — | 64,537 | |||||||||||||
Treasury bills | 11,089 | — | — | 11,089 | |||||||||||||
Certificates of deposit | — | 7,993 | — | 7,993 | |||||||||||||
Mutual funds, held in rabbi trust | 4,686 | — | — | 4,686 | |||||||||||||
Commercial paper | — | 3,945 | — | 3,945 | |||||||||||||
Federal government agencies | 800 | — | — | 800 | |||||||||||||
$ | 81,112 | $ | 98,862 | $ | — | $ | 179,974 | ||||||||||
Marketable Securities Fair Value as of | |||||||||||||||||
January 31, 2015 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | — | $ | 73,495 | $ | — | $ | 73,495 | |||||||||
Corporate bonds | 103,326 | — | — | 103,326 | |||||||||||||
Treasury bills | 9,156 | — | — | 9,156 | |||||||||||||
Certificates of deposit | — | 14,198 | — | 14,198 | |||||||||||||
Mutual funds, held in rabbi trust | 3,778 | — | — | 3,778 | |||||||||||||
Commercial paper | — | 3,940 | — | 3,940 | |||||||||||||
Federal government agencies | 801 | — | — | 801 | |||||||||||||
$ | 117,061 | $ | 91,633 | $ | — | $ | 208,694 | ||||||||||
Marketable Securities Fair Value as of | |||||||||||||||||
April 30, 2014 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | — | $ | 113,238 | $ | — | $ | 113,238 | |||||||||
Corporate bonds | 140,411 | — | — | 140,411 | |||||||||||||
Treasury bills | 17,914 | — | — | 17,914 | |||||||||||||
Certificates of deposit | — | 24,857 | — | 24,857 | |||||||||||||
Mutual funds, held in rabbi trust | 2,600 | — | — | 2,600 | |||||||||||||
Commercial paper | — | 24,684 | — | 24,684 | |||||||||||||
Federal government agencies | 1,786 | — | — | 1,786 | |||||||||||||
$ | 162,711 | $ | 162,779 | $ | — | $ | 325,490 | ||||||||||
Level 1 assets consist of financial instruments whose value has been based on inputs that use, as their basis, readily observable market data that are actively quoted and are validated through external sources, including third-party pricing services and brokers. | |||||||||||||||||
Level 2 assets consist of financial instruments whose value has been based on quoted prices for similar assets and liabilities in active markets as well as quoted prices for identical or similar assets or liabilities in markets that are not active. | |||||||||||||||||
Level 3 assets consist of financial instruments where there has been no active market. The Company held no Level 3 assets as of April 30, 2015, January 31, 2015 and April 30, 2014. | |||||||||||||||||
The fair value of cash and cash equivalents (Level 1) approximate carrying value since cash and cash equivalents consist of short-term highly liquid investments with maturities of three months or less. As of April 30, 2015, cash and cash equivalents included cash on hand, cash in banks, money market accounts and marketable securities with maturities of less than three months at the time of purchase. |
Line_of_Credit_Facility
Line of Credit Facility | 3 Months Ended |
Apr. 30, 2015 | |
Line of Credit Facility | 5. Line of Credit Facility |
On March 27, 2014, the Company amended and restated its existing line of credit facility with Wells Fargo Bank, National Association (the “Line”). The Line is a five-year $175.0 million revolving credit facility with an accordion feature allowing for an increase of up to $50.0 million at the Company’s discretion. The Line contains a sub-limit for borrowings by the Company’s subsidiaries that are guaranteed by the Company. Under the terms of the Line, at the Company’s option, the aggregate principal balance of the amounts advanced or portions thereof will bear interest at (a) the base rate, or (b) the applicable LIBOR Rate plus a margin that can range from 0.50% to 1.50%. The Line subjects the Company to various restrictive covenants, including maintenance of certain financial covenants. As of April 30, 2015, there were no borrowings under the Line and the Company was in compliance with all covenants. Outstanding letters of credit under the Line totaled approximately $91,361 as of April 30, 2015. The available credit under the Line was $83,639 as of April 30, 2015. |
ShareBased_Compensation
Share-Based Compensation | 3 Months Ended | ||||||||
Apr. 30, 2015 | |||||||||
Share-Based Compensation | 6. Share-Based Compensation | ||||||||
The Company maintains stock incentive plans pursuant to which it can grant restricted shares, unrestricted shares, incentive stock options, non-qualified stock options, restricted stock units (“RSU’s”), performance stock units (“PSU’s”) or stock appreciation rights (“SAR’s”). A lattice binomial pricing model was used to estimate the fair values of stock options and SAR’s. The fair value of each of the PSU’s was determined using a Monte Carlo simulation. | |||||||||
Share-based compensation expense included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Income, for the three months ended April 30, 2015 and 2014 was as follows: | |||||||||
Three Months Ended | |||||||||
April 30, | |||||||||
2015 | 2014 | ||||||||
Stock Options | $ | 133 | $ | 413 | |||||
Stock Appreciation Rights | 537 | 646 | |||||||
Performance Stock Units | 3,420 | 3,461 | |||||||
Restricted Stock Units | 23 | 56 | |||||||
Total | $ | 4,113 | $ | 4,576 | |||||
Share-based awards granted and the weighted-average fair value for the three months ended April 30, 2015 was as follows: | |||||||||
Three Months Ended | |||||||||
April 30, 2015 | |||||||||
Awards Granted | Weighted | ||||||||
Average Fair | |||||||||
Value | |||||||||
Stock Options | — | $ | — | ||||||
Stock Appreciation Rights | — | $ | — | ||||||
Performance Stock Units | 158,500 | $ | 24.37 | ||||||
Restricted Stock Units | — | $ | — | ||||||
Total | 158,500 | ||||||||
During the three months ended April 30, 2015, 1,200,940 stock options were exercised, 502,125 stock appreciation rights were exercised, 251,081 performance stock units vested and 5,000 restricted stock units vested. | |||||||||
The total unrecognized compensation cost related to outstanding share-based awards and the weighted-average period in which the cost is expected to be recognized as of April 30, 2015 is as follows: | |||||||||
April 30, 2015 | |||||||||
Unrecognized | Weighted | ||||||||
Compensation | Average | ||||||||
Cost | Years | ||||||||
Stock Options | $ | 62 | 0.1 | ||||||
Stock Appreciation Rights | 1,431 | 1.7 | |||||||
Performance Stock Units | 39,713 | 3 | |||||||
Restricted Stock Units | — | 0 | |||||||
Total | $ | 41,206 | 2.9 | ||||||
Shareholders_Equity
Shareholder's Equity | 3 Months Ended |
Apr. 30, 2015 | |
Shareholder's Equity | 7. Shareholder’s Equity |
On May 27, 2014, the Company’s Board of Directors authorized the repurchase of 10,000,000 common shares under a share repurchase program. Under this authorization, the Company repurchased and subsequently retired 7,718,531 common shares at a total cost of $258,160 during fiscal 2015. The average cost per share of these repurchases for fiscal 2015 was $33.45, including commissions. During the three months ended April 30, 2015, the Company repurchased and subsequently retired 401,977 shares at a total cost of $17,306 under this authorization. The average cost per share of these repurchases for the three months ended April 30, 2015 was $43.05, including commissions. | |
On February 23, 2015, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a subsequent share repurchase program. During the three months ended April 30, 2015, no shares were repurchased under this authorization. | |
Subsequent to April 30, 2015, the Company repurchased and retired at total of 3,539,000 common shares for approximately $124,203, at an average price of $35.10 per share, including commissions. These repurchases were comprised of 1,879,492 common shares which completed the May 27, 2014 authorization and the remaining 1,659,508 common shares were repurchased as part of the February 23, 2015 authorization. | |
On August 27, 2013, the Company’s Board of Directors authorized the repurchase of 10,000,000 common shares under a share repurchase program. The Company repurchased and subsequently retired all of the remaining 9,699,700 outstanding shares available under this authorization during the first quarter of fiscal 2015 at a total cost of $353,315 for an average cost per share of $36.43, including commissions. | |
In addition to the shares repurchased under the share repurchase programs, during the three months ended April 30, 2015 the Company acquired and subsequently retired 180,776 common shares at a total cost of $7,976, from employees to meet minimum statutory tax withholding requirements. During the three months ended April, 30, 2014, the Company acquired and subsequently retired 1,690 common shares at a total cost of $61 from employees to meet minimum statutory tax withholding requirements. | |
As a result of the share repurchase activity during the three months ended April 30, 2015, the Company reduced the balance of additional paid-in-capital by $25,282. |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||||||
Apr. 30, 2015 | |||||||||||||
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | 8. Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | ||||||||||||
The following tables present the changes in accumulated other comprehensive income (loss), by component, net of tax, for the three months ended April 30, 2015 and 2014, respectively: | |||||||||||||
Three Months Ended April 30, 2015 | |||||||||||||
Foreign | Unrealized Gains | Total | |||||||||||
Currency | and (Losses) on | ||||||||||||
Translation | Available-for- | ||||||||||||
Sale Securities | |||||||||||||
Balance at beginning of period | $ | (15,516 | ) | $ | 89 | $ | (15,427 | ) | |||||
Other comprehensive income (loss) before reclassifications | 3,145 | (41 | ) | 3,104 | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 3 | 3 | ||||||||||
Net current-period other comprehensive income (loss) | 3,145 | (38 | ) | 3,107 | |||||||||
Balance at end of period | $ | (12,371 | ) | $ | 51 | $ | (12,320 | ) | |||||
Three Months Ended April 30, 2014 | |||||||||||||
Foreign | Unrealized Gains | Total | |||||||||||
Currency | and (Losses) on | ||||||||||||
Translation | Available-for- | ||||||||||||
Sale Securities | |||||||||||||
Balance at beginning of period | $ | (1,388 | ) | $ | 420 | $ | (968 | ) | |||||
Other comprehensive income (loss) before reclassifications | 2,868 | (250 | ) | 2,618 | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 70 | 70 | ||||||||||
Net current-period other comprehensive income (loss) | 2,868 | (180 | ) | 2,688 | |||||||||
Balance at end of period | $ | 1,480 | $ | 240 | $ | 1,720 | |||||||
All unrealized gains and losses on available-for-sale securities reclassified from accumulated other comprehensive income (loss) were recorded in “Other expense, net” in the Condensed Consolidated Statements of Income. |
Net_Income_per_Common_Share
Net Income per Common Share | 3 Months Ended | ||||||||
Apr. 30, 2015 | |||||||||
Net Income per Common Share | 9. Net Income per Common Share | ||||||||
The following is a reconciliation of the weighted-average common shares outstanding used for the computation of basic and diluted net income per common share: | |||||||||
Three Months Ended | |||||||||
April 30, | |||||||||
2015 | 2014 | ||||||||
Basic weighted-average common shares outstanding | 131,202,740 | 144,075,666 | |||||||
Effect of dilutive options, stock appreciation rights, performance stock units and restricted stock units | 1,633,404 | 1,830,878 | |||||||
Diluted weighted-average shares outstanding | 132,836,144 | 145,906,544 | |||||||
For the three months ended April 30, 2015, awards to purchase 100,000 common shares with an exercise price of $46.02 were excluded from the Company’s computation of diluted weighted-average shares outstanding because their effect would have been anti-dilutive. For the three months ended April 30, 2014, awards to purchase 947,950 common shares with an exercise price range of $37.02 to $46.02 were excluded from the Company’s computation of diluted weighted-average shares outstanding because their effect would have been anti-dilutive. | |||||||||
Excluded from the calculation of diluted net income per common share as of April 30, 2015 and 2014 were 1,939,500 and 1,742,033 performance-based equity awards, respectively, since they did not meet the required performance criteria. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2015 | |
Commitments and Contingencies | 10. Commitments and Contingencies |
The Company is party to various legal proceedings arising from normal business activities. Management believes that the ultimate resolution of these matters will not have a material effect on the Company’s financial position or results of operations. |
Segment_Reporting
Segment Reporting | 3 Months Ended | ||||||||||||
Apr. 30, 2015 | |||||||||||||
Segment Reporting | 11. Segment Reporting | ||||||||||||
The Company is a global retailer of lifestyle-oriented general merchandise with two reportable segments—“Retail” and “Wholesale.” The Company’s Retail segment consists of the aggregation of its five brands operating through 552 stores under the retail names “Urban Outfitters,” “Anthropologie,” “Free People,” “Terrain” and “Bhldn” and includes their direct-to-consumer channels. Each of the Company’s brands, which include the retail stores and direct-to-consumer channels, are considered an operating segment. Net sales from the Retail segment accounted for approximately 93% of total consolidated net sales for the three months ended April 30, 2015 and 2014, respectively. The remaining net sales are derived from the Company’s Wholesale segment that distributes apparel to its Retail segment and to approximately 1,600 better department and specialty retailers worldwide. | |||||||||||||
The Company has aggregated its brands into the Retail segment based upon their shared management, customer base and economic characteristics. Reporting in this format provides management with the financial information necessary to evaluate the success of the segments and the overall business. The Company evaluates the performance of the segments based on the net sales and pre-tax income from operations (excluding intercompany charges) of the segment. Corporate expenses include expenses incurred and directed by the corporate office that are not allocated to segments. The principal identifiable assets for each reporting segment are inventories and property and equipment. Other assets are comprised primarily of general corporate assets, which principally consist of cash and cash equivalents, marketable securities, deferred taxes and prepaid expenses, which are typically not allocated to the Company’s segments. The Company accounts for intersegment sales and transfers as if the sales and transfers were made to third parties making similar volume purchases. | |||||||||||||
The Company’s omni-channel strategy enhances its customers’ brand experience by providing a seamless approach to the customer shopping experience. The Company has substantially integrated all available shopping channels, including stores, websites (online and through mobile devices) and catalogs. The Company’s investments in areas such as marketing campaigns and technology advancements are designed to generate demand for the omni-channel and not the separate store or direct-to-consumer channels. Store sales are primarily fulfilled from that store’s inventory, but may also be shipped from any of the Company’s fulfillment centers or from a different store location if an item is not available at the original store. Direct-to-consumer orders are primarily shipped to the Company’s customers through its fulfillment centers, but may also be shipped from any store, or a combination of fulfillment centers and stores depending on the availability of a particular item. Direct-to-consumer orders may also be picked up at a store location. As the Company’s customers continue to shop across multiple channels, the Company has adapted its approach towards meeting this demand. Due to the availability of like product in a variety of shopping channels, the Company now sources these products utilizing single stock keeping units based on the omni-channel demand rather than the demand of the separate channels. These and other technological capabilities allow the Company to better serve its customers and help it to complete a sale that otherwise may not have occurred due to out-of-stock positions. As a result of changing customer behavior and the substantial integration of the operations of the Company’s store and direct-to-consumer channels, the Company manages and analyzes its performance based on a single omni-channel rather than separate channels and believes that the omni-channel results present the most meaningful and appropriate measure of the Company’s performance. | |||||||||||||
The accounting policies of the reportable segments are the same as the policies described in Note 2, “Summary of Significant Accounting Policies,” in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2015. Both the Retail and Wholesale segments are highly diversified. No one customer constitutes more than 10% of the Company’s total consolidated net sales. A summary of the information about the Company’s operations by segment is as follows: | |||||||||||||
April 30, | January 31, | April 30, | |||||||||||
2015 | 2015 | 2014 | |||||||||||
Inventories | |||||||||||||
Retail operations | $ | 359,112 | $ | 314,940 | $ | 320,961 | |||||||
Wholesale operations | 38,886 | 43,297 | 28,084 | ||||||||||
Total inventories | $ | 397,998 | $ | 358,237 | $ | 349,045 | |||||||
Property and equipment, net | |||||||||||||
Retail operations | $ | 895,399 | $ | 885,200 | $ | 831,854 | |||||||
Wholesale operations | 3,925 | 4,032 | 4,390 | ||||||||||
Total property and equipment, net | $ | 899,324 | $ | 889,232 | $ | 836,244 | |||||||
Three Months Ended | |||||||||||||
April 30, | |||||||||||||
2015 | 2014 | ||||||||||||
Net sales | |||||||||||||
Retail operations | $ | 685,009 | $ | 640,430 | |||||||||
Wholesale operations | 57,614 | 48,290 | |||||||||||
Intersegment elimination | (3,613 | ) | (2,410 | ) | |||||||||
Total net sales | $ | 739,010 | $ | 686,310 | |||||||||
Income from operations | |||||||||||||
Retail operations | $ | 51,532 | $ | 60,649 | |||||||||
Wholesale operations | 10,368 | 9,991 | |||||||||||
Intersegment elimination | (353 | ) | (240 | ) | |||||||||
Total segment operating income | 61,547 | 70,400 | |||||||||||
General corporate expenses | (8,493 | ) | (10,579 | ) | |||||||||
Total income from operations | $ | 53,054 | $ | 59,821 | |||||||||
The Company has foreign operations in Europe and Canada. Revenues and long-lived assets, based upon the Company’s domestic and foreign operations, are as follows: | |||||||||||||
April 30, | January 31, | April 30, | |||||||||||
2015 | 2015 | 2014 | |||||||||||
Property and equipment, net | |||||||||||||
Domestic operations | $ | 755,890 | $ | 745,504 | $ | 685,195 | |||||||
Foreign operations | 143,434 | 143,728 | 151,049 | ||||||||||
Total property and equipment, net | $ | 899,324 | $ | 889,232 | $ | 836,244 | |||||||
Three Months Ended | |||||||||||||
April 30, | |||||||||||||
2015 | 2014 | ||||||||||||
Net Sales | |||||||||||||
Domestic operations | $ | 649,718 | $ | 600,913 | |||||||||
Foreign operations | 89,292 | 85,397 | |||||||||||
Total net sales | $ | 739,010 | $ | 686,310 | |||||||||
Marketable_Securities_Tables
Marketable Securities (Tables) | 3 Months Ended | ||||||||||||||||
Apr. 30, 2015 | |||||||||||||||||
Amortized Cost, Gross Unrealized Gains (Losses) and Fair Value of Available-For-Sale Securities | The amortized cost, gross unrealized gains (losses) and fair value of available-for-sale securities by major security type and class of security as of April 30, 2015, January 31, 2015 and April 30, 2014 were as follows: | ||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||
Cost | Gains | (Losses) | Value | ||||||||||||||
As of April 30, 2015 | |||||||||||||||||
Short-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | 40,287 | $ | 42 | $ | (2 | ) | $ | 40,327 | ||||||||
Corporate bonds | 43,923 | 12 | (28 | ) | 43,907 | ||||||||||||
Treasury bills | 3,018 | 2 | — | 3,020 | |||||||||||||
Certificates of deposit | 5,426 | 1 | — | 5,427 | |||||||||||||
Commercial paper | 3,942 | 3 | — | 3,945 | |||||||||||||
96,596 | 60 | (30 | ) | 96,626 | |||||||||||||
Long-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | 46,529 | 78 | (10 | ) | 46,597 | ||||||||||||
Corporate bonds | 20,652 | 8 | (30 | ) | 20,630 | ||||||||||||
Treasury bills | 8,067 | 3 | (1 | ) | 8,069 | ||||||||||||
Certificates of deposit | 2,566 | — | — | 2,566 | |||||||||||||
Mutual funds, held in rabbi trust | 4,670 | 40 | (24 | ) | 4,686 | ||||||||||||
Federal government agencies | 799 | 1 | — | 800 | |||||||||||||
83,283 | 130 | (65 | ) | 83,348 | |||||||||||||
$ | 179,879 | $ | 190 | $ | (95 | ) | $ | 179,974 | |||||||||
As of January 31, 2015 | |||||||||||||||||
Short-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | 30,509 | $ | 41 | $ | (2 | ) | $ | 30,548 | ||||||||
Corporate bonds | 56,594 | 20 | (24 | ) | 56,590 | ||||||||||||
Treasury bills | 2,033 | 3 | — | 2,036 | |||||||||||||
Certificates of deposit | 11,127 | 5 | — | 11,132 | |||||||||||||
Commercial paper | 3,938 | 2 | — | 3,940 | |||||||||||||
104,201 | 71 | (26 | ) | 104,246 | |||||||||||||
Long-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | 42,840 | 113 | (6 | ) | 42,947 | ||||||||||||
Corporate bonds | 46,754 | 22 | (40 | ) | 46,736 | ||||||||||||
Treasury bills | 7,111 | 9 | — | 7,120 | |||||||||||||
Certificates of deposit | 3,066 | — | — | 3,066 | |||||||||||||
Mutual funds, held in rabbi trust | 3,816 | 16 | (54 | ) | 3,778 | ||||||||||||
Federal government agencies | 799 | 2 | — | 801 | |||||||||||||
104,386 | 162 | (100 | ) | 104,448 | |||||||||||||
$ | 208,587 | $ | 233 | $ | (126 | ) | $ | 208,694 | |||||||||
As of April 30, 2014 | |||||||||||||||||
Short-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | 44,522 | $ | 41 | $ | — | $ | 44,563 | |||||||||
Corporate bonds | 54,678 | 30 | (17 | ) | 54,691 | ||||||||||||
Treasury bills | 2,498 | 3 | — | 2,501 | |||||||||||||
Certificates of deposit | 23,348 | 10 | (1 | ) | 23,357 | ||||||||||||
Commercial paper | 24,678 | 6 | — | 24,684 | |||||||||||||
149,724 | 90 | (18 | ) | 149,796 | |||||||||||||
Long-term Investments: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | 68,511 | 178 | (14 | ) | 68,675 | ||||||||||||
Corporate bonds | 85,583 | 168 | (31 | ) | 85,720 | ||||||||||||
Treasury bills | 15,404 | 9 | — | 15,413 | |||||||||||||
Certificates of deposit | 1,499 | 1 | — | 1,500 | |||||||||||||
Mutual funds, held in rabbi trust | 2,579 | 33 | (12 | ) | 2,600 | ||||||||||||
Federal government agencies | 1,782 | 4 | — | 1,786 | |||||||||||||
175,358 | 393 | (57 | ) | 175,694 | |||||||||||||
$ | 325,082 | $ | 483 | $ | (75 | ) | $ | 325,490 | |||||||||
Fair_Value_Tables
Fair Value (Tables) | 3 Months Ended | ||||||||||||||||
Apr. 30, 2015 | |||||||||||||||||
Financial Assets Measured at Fair Value on Recurring Basis | The Company’s financial assets that are accounted for at fair value on a recurring basis are presented in the table below: | ||||||||||||||||
Marketable Securities Fair Value as of | |||||||||||||||||
April 30, 2015 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | — | $ | 86,924 | $ | — | $ | 86,924 | |||||||||
Corporate bonds | 64,537 | — | — | 64,537 | |||||||||||||
Treasury bills | 11,089 | — | — | 11,089 | |||||||||||||
Certificates of deposit | — | 7,993 | — | 7,993 | |||||||||||||
Mutual funds, held in rabbi trust | 4,686 | — | — | 4,686 | |||||||||||||
Commercial paper | — | 3,945 | — | 3,945 | |||||||||||||
Federal government agencies | 800 | — | — | 800 | |||||||||||||
$ | 81,112 | $ | 98,862 | $ | — | $ | 179,974 | ||||||||||
Marketable Securities Fair Value as of | |||||||||||||||||
January 31, 2015 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | — | $ | 73,495 | $ | — | $ | 73,495 | |||||||||
Corporate bonds | 103,326 | — | — | 103,326 | |||||||||||||
Treasury bills | 9,156 | — | — | 9,156 | |||||||||||||
Certificates of deposit | — | 14,198 | — | 14,198 | |||||||||||||
Mutual funds, held in rabbi trust | 3,778 | — | — | 3,778 | |||||||||||||
Commercial paper | — | 3,940 | — | 3,940 | |||||||||||||
Federal government agencies | 801 | — | — | 801 | |||||||||||||
$ | 117,061 | $ | 91,633 | $ | — | $ | 208,694 | ||||||||||
Marketable Securities Fair Value as of | |||||||||||||||||
April 30, 2014 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Municipal and pre-refunded municipal bonds | $ | — | $ | 113,238 | $ | — | $ | 113,238 | |||||||||
Corporate bonds | 140,411 | — | — | 140,411 | |||||||||||||
Treasury bills | 17,914 | — | — | 17,914 | |||||||||||||
Certificates of deposit | — | 24,857 | — | 24,857 | |||||||||||||
Mutual funds, held in rabbi trust | 2,600 | — | — | 2,600 | |||||||||||||
Commercial paper | — | 24,684 | — | 24,684 | |||||||||||||
Federal government agencies | 1,786 | — | — | 1,786 | |||||||||||||
$ | 162,711 | $ | 162,779 | $ | — | $ | 325,490 | ||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | ||||||||
Apr. 30, 2015 | |||||||||
Share-Based Compensation Expense Included in Selling, General and Administrative Expenses in Consolidated Statements of Income | Share-based compensation expense included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Income, for the three months ended April 30, 2015 and 2014 was as follows: | ||||||||
Three Months Ended | |||||||||
April 30, | |||||||||
2015 | 2014 | ||||||||
Stock Options | $ | 133 | $ | 413 | |||||
Stock Appreciation Rights | 537 | 646 | |||||||
Performance Stock Units | 3,420 | 3,461 | |||||||
Restricted Stock Units | 23 | 56 | |||||||
Total | $ | 4,113 | $ | 4,576 | |||||
Schedule of Share Based Awards Issued and Weighted Average Fair Value | Share-based awards granted and the weighted-average fair value for the three months ended April 30, 2015 was as follows: | ||||||||
Three Months Ended | |||||||||
April 30, 2015 | |||||||||
Awards Granted | Weighted | ||||||||
Average Fair | |||||||||
Value | |||||||||
Stock Options | — | $ | — | ||||||
Stock Appreciation Rights | — | $ | — | ||||||
Performance Stock Units | 158,500 | $ | 24.37 | ||||||
Restricted Stock Units | — | $ | — | ||||||
Total | 158,500 | ||||||||
Schedule of Unrecognized Compensation Cost and Weighted Average Period of Recognition | The total unrecognized compensation cost related to outstanding share-based awards and the weighted-average period in which the cost is expected to be recognized as of April 30, 2015 is as follows: | ||||||||
April 30, 2015 | |||||||||
Unrecognized | Weighted | ||||||||
Compensation | Average | ||||||||
Cost | Years | ||||||||
Stock Options | $ | 62 | 0.1 | ||||||
Stock Appreciation Rights | 1,431 | 1.7 | |||||||
Performance Stock Units | 39,713 | 3 | |||||||
Restricted Stock Units | — | 0 | |||||||
Total | $ | 41,206 | 2.9 | ||||||
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||||||
Apr. 30, 2015 | |||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax | The following tables present the changes in accumulated other comprehensive income (loss), by component, net of tax, for the three months ended April 30, 2015 and 2014, respectively: | ||||||||||||
Three Months Ended April 30, 2015 | |||||||||||||
Foreign | Unrealized Gains | Total | |||||||||||
Currency | and (Losses) on | ||||||||||||
Translation | Available-for- | ||||||||||||
Sale Securities | |||||||||||||
Balance at beginning of period | $ | (15,516 | ) | $ | 89 | $ | (15,427 | ) | |||||
Other comprehensive income (loss) before reclassifications | 3,145 | (41 | ) | 3,104 | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 3 | 3 | ||||||||||
Net current-period other comprehensive income (loss) | 3,145 | (38 | ) | 3,107 | |||||||||
Balance at end of period | $ | (12,371 | ) | $ | 51 | $ | (12,320 | ) | |||||
Three Months Ended April 30, 2014 | |||||||||||||
Foreign | Unrealized Gains | Total | |||||||||||
Currency | and (Losses) on | ||||||||||||
Translation | Available-for- | ||||||||||||
Sale Securities | |||||||||||||
Balance at beginning of period | $ | (1,388 | ) | $ | 420 | $ | (968 | ) | |||||
Other comprehensive income (loss) before reclassifications | 2,868 | (250 | ) | 2,618 | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 70 | 70 | ||||||||||
Net current-period other comprehensive income (loss) | 2,868 | (180 | ) | 2,688 | |||||||||
Balance at end of period | $ | 1,480 | $ | 240 | $ | 1,720 | |||||||
Net_Income_per_Common_Share_Ta
Net Income per Common Share (Tables) | 3 Months Ended | ||||||||
Apr. 30, 2015 | |||||||||
Reconciliation of Weighted Average Common Shares Outstanding Used For Computation of Basic and Diluted Net Income Per Common Share | The following is a reconciliation of the weighted-average common shares outstanding used for the computation of basic and diluted net income per common share: | ||||||||
Three Months Ended | |||||||||
April 30, | |||||||||
2015 | 2014 | ||||||||
Basic weighted-average common shares outstanding | 131,202,740 | 144,075,666 | |||||||
Effect of dilutive options, stock appreciation rights, performance stock units and restricted stock units | 1,633,404 | 1,830,878 | |||||||
Diluted weighted-average shares outstanding | 132,836,144 | 145,906,544 | |||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 3 Months Ended | ||||||||||||
Apr. 30, 2015 | |||||||||||||
Schedule of Operations by Segment | A summary of the information about the Company’s operations by segment is as follows: | ||||||||||||
April 30, | January 31, | April 30, | |||||||||||
2015 | 2015 | 2014 | |||||||||||
Inventories | |||||||||||||
Retail operations | $ | 359,112 | $ | 314,940 | $ | 320,961 | |||||||
Wholesale operations | 38,886 | 43,297 | 28,084 | ||||||||||
Total inventories | $ | 397,998 | $ | 358,237 | $ | 349,045 | |||||||
Property and equipment, net | |||||||||||||
Retail operations | $ | 895,399 | $ | 885,200 | $ | 831,854 | |||||||
Wholesale operations | 3,925 | 4,032 | 4,390 | ||||||||||
Total property and equipment, net | $ | 899,324 | $ | 889,232 | $ | 836,244 | |||||||
Three Months Ended | |||||||||||||
April 30, | |||||||||||||
2015 | 2014 | ||||||||||||
Net sales | |||||||||||||
Retail operations | $ | 685,009 | $ | 640,430 | |||||||||
Wholesale operations | 57,614 | 48,290 | |||||||||||
Intersegment elimination | (3,613 | ) | (2,410 | ) | |||||||||
Total net sales | $ | 739,010 | $ | 686,310 | |||||||||
Income from operations | |||||||||||||
Retail operations | $ | 51,532 | $ | 60,649 | |||||||||
Wholesale operations | 10,368 | 9,991 | |||||||||||
Intersegment elimination | (353 | ) | (240 | ) | |||||||||
Total segment operating income | 61,547 | 70,400 | |||||||||||
General corporate expenses | (8,493 | ) | (10,579 | ) | |||||||||
Total income from operations | $ | 53,054 | $ | 59,821 | |||||||||
Schedule of Revenues and Long-Lived Assets, by Domestic and Foreign Operations Segment | The Company has foreign operations in Europe and Canada. Revenues and long-lived assets, based upon the Company’s domestic and foreign operations, are as follows: | ||||||||||||
April 30, | January 31, | April 30, | |||||||||||
2015 | 2015 | 2014 | |||||||||||
Property and equipment, net | |||||||||||||
Domestic operations | $ | 755,890 | $ | 745,504 | $ | 685,195 | |||||||
Foreign operations | 143,434 | 143,728 | 151,049 | ||||||||||
Total property and equipment, net | $ | 899,324 | $ | 889,232 | $ | 836,244 | |||||||
Three Months Ended | |||||||||||||
April 30, | |||||||||||||
2015 | 2014 | ||||||||||||
Net Sales | |||||||||||||
Domestic operations | $ | 649,718 | $ | 600,913 | |||||||||
Foreign operations | 89,292 | 85,397 | |||||||||||
Total net sales | $ | 739,010 | $ | 686,310 | |||||||||
Amortized_Cost_Gross_Unrealize
Amortized Cost, Gross Unrealized Gains (Losses) and Fair Value of Available-For-Sale Securities (Detail) (USD $) | Apr. 30, 2015 | Jan. 31, 2015 | Apr. 30, 2014 |
In Thousands, unless otherwise specified | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | $179,879 | $208,587 | $325,082 |
Unrealized Gains | 190 | 233 | 483 |
Unrealized (Losses) | -95 | -126 | -75 |
Fair Value | 179,974 | 208,694 | 325,490 |
Short-term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 96,596 | 104,201 | 149,724 |
Unrealized Gains | 60 | 71 | 90 |
Unrealized (Losses) | -30 | -26 | -18 |
Fair Value | 96,626 | 104,246 | 149,796 |
Long Term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 83,283 | 104,386 | 175,358 |
Unrealized Gains | 130 | 162 | 393 |
Unrealized (Losses) | -65 | -100 | -57 |
Fair Value | 83,348 | 104,448 | 175,694 |
Corporate Bonds | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair Value | 64,537 | 103,326 | 140,411 |
Corporate Bonds | Short-term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 43,923 | 56,594 | 54,678 |
Unrealized Gains | 12 | 20 | 30 |
Unrealized (Losses) | -28 | -24 | -17 |
Fair Value | 43,907 | 56,590 | 54,691 |
Corporate Bonds | Long Term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 20,652 | 46,754 | 85,583 |
Unrealized Gains | 8 | 22 | 168 |
Unrealized (Losses) | -30 | -40 | -31 |
Fair Value | 20,630 | 46,736 | 85,720 |
Municipal And Pre-Refunded Municipal Bonds | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair Value | 86,924 | 73,495 | 113,238 |
Municipal And Pre-Refunded Municipal Bonds | Short-term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 40,287 | 30,509 | 44,522 |
Unrealized Gains | 42 | 41 | 41 |
Unrealized (Losses) | -2 | -2 | |
Fair Value | 40,327 | 30,548 | 44,563 |
Municipal And Pre-Refunded Municipal Bonds | Long Term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 46,529 | 42,840 | 68,511 |
Unrealized Gains | 78 | 113 | 178 |
Unrealized (Losses) | -10 | -6 | -14 |
Fair Value | 46,597 | 42,947 | 68,675 |
Certificates of Deposit | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair Value | 7,993 | 14,198 | 24,857 |
Certificates of Deposit | Short-term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 5,426 | 11,127 | 23,348 |
Unrealized Gains | 1 | 5 | 10 |
Unrealized (Losses) | -1 | ||
Fair Value | 5,427 | 11,132 | 23,357 |
Certificates of Deposit | Long Term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 2,566 | 3,066 | 1,499 |
Unrealized Gains | 1 | ||
Fair Value | 2,566 | 3,066 | 1,500 |
Treasury Bills | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair Value | 11,089 | 9,156 | 17,914 |
Treasury Bills | Short-term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 3,018 | 2,033 | 2,498 |
Unrealized Gains | 2 | 3 | 3 |
Fair Value | 3,020 | 2,036 | 2,501 |
Treasury Bills | Long Term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 8,067 | 7,111 | 15,404 |
Unrealized Gains | 3 | 9 | 9 |
Unrealized (Losses) | -1 | ||
Fair Value | 8,069 | 7,120 | 15,413 |
Commercial Paper | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair Value | 3,945 | 3,940 | 24,684 |
Commercial Paper | Short-term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 3,942 | 3,938 | 24,678 |
Unrealized Gains | 3 | 2 | 6 |
Fair Value | 3,945 | 3,940 | 24,684 |
Mutual Funds, Held in Rabbi Trust | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair Value | 4,686 | 3,778 | 2,600 |
Mutual Funds, Held in Rabbi Trust | Long Term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 4,670 | 3,816 | 2,579 |
Unrealized Gains | 40 | 16 | 33 |
Unrealized (Losses) | -24 | -54 | -12 |
Fair Value | 4,686 | 3,778 | 2,600 |
Federal Government Agencies | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Fair Value | 800 | 801 | 1,786 |
Federal Government Agencies | Long Term Investments | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 799 | 799 | 1,782 |
Unrealized Gains | 1 | 2 | 4 |
Fair Value | $800 | $801 | $1,786 |
Marketable_Securities_Addition
Marketable Securities - Additional Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Proceeds from sale and maturities of available-for-sale securities | $80,942 | $485,375 |
Amortization of discounts and premiums, net | 1,116 | 2,607 |
Other (Expense) Income, Net | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Net realized gains | $3 | $70 |
Financial_Assets_Measured_at_F
Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Apr. 30, 2015 | Jan. 31, 2015 | Apr. 30, 2014 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | $179,974 | $208,694 | $325,490 |
Corporate Bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 64,537 | 103,326 | 140,411 |
Municipal And Pre-Refunded Municipal Bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 86,924 | 73,495 | 113,238 |
Certificates of Deposit | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 7,993 | 14,198 | 24,857 |
Treasury Bills | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 11,089 | 9,156 | 17,914 |
Commercial Paper | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 3,945 | 3,940 | 24,684 |
Mutual Funds, Held in Rabbi Trust | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 4,686 | 3,778 | 2,600 |
Federal Government Agencies | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 800 | 801 | 1,786 |
Fair Value, Inputs, Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 81,112 | 117,061 | 162,711 |
Fair Value, Inputs, Level 1 | Corporate Bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 64,537 | 103,326 | 140,411 |
Fair Value, Inputs, Level 1 | Treasury Bills | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 11,089 | 9,156 | 17,914 |
Fair Value, Inputs, Level 1 | Mutual Funds, Held in Rabbi Trust | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 4,686 | 3,778 | 2,600 |
Fair Value, Inputs, Level 1 | Federal Government Agencies | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 800 | 801 | 1,786 |
Fair Value, Inputs, Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 98,862 | 91,633 | 162,779 |
Fair Value, Inputs, Level 2 | Municipal And Pre-Refunded Municipal Bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 86,924 | 73,495 | 113,238 |
Fair Value, Inputs, Level 2 | Certificates of Deposit | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | 7,993 | 14,198 | 24,857 |
Fair Value, Inputs, Level 2 | Commercial Paper | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Financial assets accounted for at fair value on a recurring basis | $3,945 | $3,940 | $24,684 |
Line_of_Credit_Facility_Additi
Line of Credit Facility - Additional Information (Detail) (Amended and Restated Line, USD $) | 0 Months Ended | ||
Mar. 27, 2014 | Apr. 30, 2015 | Mar. 27, 2014 | |
Line of Credit Facility [Line Items] | |||
Line of credit facility | $175,000,000 | $175,000,000 | |
Line of credit facility, period | 5 years | ||
Additional line of credit borrowing, amount | 50,000,000 | 50,000,000 | |
Outstanding letters of credit and stand-by letters of credit | 91,361,000 | ||
Available credit including accordion feature | $83,639,000 | ||
Minimum | |||
Line of Credit Facility [Line Items] | |||
Interest rate on cash advances in addition to LIBOR | 0.50% | ||
Maximum | |||
Line of Credit Facility [Line Items] | |||
Interest rate on cash advances in addition to LIBOR | 1.50% |
Schedule_of_ShareBased_Compens
Schedule of Share-Based Compensation Expense (Income) Included in Selling, General and Administrative Expenses in Condensed Consolidated Statements of Income (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | $4,113 | $4,576 |
Stock Options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | 133 | 413 |
Stock Appreciation Rights (SARs) | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | 537 | 646 |
Performance Stock Units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | 3,420 | 3,461 |
Restricted Stock Units (RSUs) | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation expense | $23 | $56 |
Schedule_of_Share_Based_Awards
Schedule of Share Based Awards Issued and Weighted Average Fair Value (Detail) (USD $) | 3 Months Ended |
Apr. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Awards Granted | 158,500 |
Performance Stock Units | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Awards Granted | 158,500 |
Weighted Average Fair Value | 24.37 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) | 3 Months Ended |
Apr. 30, 2015 | |
Stock Options | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock exercised | 1,200,940 |
Stock Appreciation Rights (SARs) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock exercised | 502,125 |
Performance Stock Units | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
stock units vested | 251,081 |
Restricted Stock Units (RSUs) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
stock units vested | 5,000 |
Schedule_of_Unrecognized_Compe
Schedule of Unrecognized Compensation Cost and Weighted Average Period of Recognition (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Apr. 30, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |
Unrecognized Compensation Cost | $41,206 |
Weighted Average Years | 2 years 10 months 24 days |
Stock Options | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |
Unrecognized Compensation Cost | 62 |
Weighted Average Years | 1 month 6 days |
Stock Appreciation Rights (SARs) | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |
Unrecognized Compensation Cost | 1,431 |
Weighted Average Years | 1 year 8 months 12 days |
Performance Stock Units | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |
Unrecognized Compensation Cost | $39,713 |
Weighted Average Years | 3 years |
Restricted Stock Units (RSUs) | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |
Weighted Average Years | 0 years |
Shareholders_Equity_Additional
Shareholder's Equity - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 | Jun. 09, 2015 | Jan. 31, 2015 | Feb. 23, 2015 | 27-May-14 | Aug. 27, 2013 |
Equity, Class of Treasury Stock [Line Items] | |||||||
Common shares authorized for repurchase, shares | 20,000,000 | 10,000,000 | 10,000,000 | ||||
Stock repurchased and retired during period, common shares | 9,699,700 | ||||||
Stock repurchased and retired during period, total cost | $353,315 | ||||||
Average cost per share | $36.43 | ||||||
Stock repurchased during period, common shares | 0 | ||||||
Additional paid-in-capital reduction related to shares repurchased | 25,282 | ||||||
Subsequent Event | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock repurchased and retired during period, common shares | 3,539,000 | ||||||
Stock repurchased and retired during period, total cost | 124,203 | ||||||
Average cost per share | $35.10 | ||||||
Employee Stock | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock repurchased and retired during period, common shares | 180,776 | 1,690 | |||||
Stock repurchased and retired during period, total cost | 7,976 | 61 | |||||
New Share Repurchase Program | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock repurchased and retired during period, common shares | 401,977 | 7,718,531 | |||||
Stock repurchased and retired during period, total cost | $17,306 | $258,160 | |||||
Average cost per share | $43.05 | $33.45 | |||||
May 27, 2014 Authorization | Subsequent Event | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock repurchased and retired during period, common shares | 1,879,492 | ||||||
February 23, 2015 Authorization | Subsequent Event | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock repurchased and retired during period, common shares | 1,659,508 |
Change_in_Accumulated_Other_Co
Change in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Beginning Balance | ($15,427) | ($968) |
Other comprehensive income (loss) before reclassifications | 3,104 | 2,618 |
Amounts reclassified from accumulated other comprehensive income (loss) | 3 | 70 |
Net current-period other comprehensive income (loss) | 3,107 | 2,688 |
Ending Balance | -12,320 | 1,720 |
Foreign Currency Translation | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Beginning Balance | -15,516 | -1,388 |
Other comprehensive income (loss) before reclassifications | 3,145 | 2,868 |
Net current-period other comprehensive income (loss) | 3,145 | 2,868 |
Ending Balance | -12,371 | 1,480 |
Unrealized Gains and (Losses) on available- for-Sale Securities | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Beginning Balance | 89 | 420 |
Other comprehensive income (loss) before reclassifications | -41 | -250 |
Amounts reclassified from accumulated other comprehensive income (loss) | 3 | 70 |
Net current-period other comprehensive income (loss) | -38 | -180 |
Ending Balance | $51 | $240 |
Reconciliation_of_Weighted_Ave
Reconciliation of Weighted Average Common Shares Outstanding Used for Computation of Basic and Diluted Net Income Per Common Share (Detail) | 3 Months Ended | |
Apr. 30, 2015 | Apr. 30, 2014 | |
Earnings Per Share [Line Items] | ||
Basic weighted-average common shares outstanding | 131,202,740 | 144,075,666 |
Effect of dilutive options, stock appreciation rights, performance stock units and restricted stock units | 1,633,404 | 1,830,878 |
Diluted weighted-average shares outstanding | 132,836,144 | 145,906,544 |
Net_Income_per_Common_Share_Ad
Net Income per Common Share - Additional Information (Detail) (USD $) | 3 Months Ended | |
Apr. 30, 2015 | Apr. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive common shares | 100,000 | 947,950 |
Anti-dilutive common shares exercise price, minimum | $37.02 | |
Anti-dilutive common shares exercise price, maximum | $46.02 | |
Anti-dilutive common shares exercise price | $46.02 | |
Performance Stock Units | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive common shares | 1,939,500 | 1,742,033 |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) | 3 Months Ended | |
Apr. 30, 2015 | Apr. 30, 2014 | |
Segment | ||
Brand | ||
Store | ||
Segment Reporting Information [Line Items] | ||
Number of major customers exceeding ten percentage thresholds | 0 | |
Retail Operations | ||
Segment Reporting Information [Line Items] | ||
Number of reporting segments | 2 | |
Number of brands | 5 | |
Number of stores | 552 | |
Percentage of net sales | 93.00% | 93.00% |
Wholesale Operations | ||
Segment Reporting Information [Line Items] | ||
Number of stores | 1,600 |
Schedule_of_Operations_by_Segm
Schedule of Operations by Segment (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 | Jan. 31, 2015 |
Segment Reporting Information [Line Items] | |||
Total inventories | $397,998 | $349,045 | $358,237 |
Total property and equipment, net | 899,324 | 836,244 | 889,232 |
Total net sales | 739,010 | 686,310 | |
General corporate expenses | -8,493 | -10,579 | |
Total income from operations | 53,054 | 59,821 | |
Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Total income from operations | 61,547 | 70,400 | |
Operating Segments | Retail Operations | |||
Segment Reporting Information [Line Items] | |||
Total inventories | 359,112 | 320,961 | 314,940 |
Total property and equipment, net | 895,399 | 831,854 | 885,200 |
Total net sales | 685,009 | 640,430 | |
Total income from operations | 51,532 | 60,649 | |
Operating Segments | Wholesale Operations | |||
Segment Reporting Information [Line Items] | |||
Total inventories | 38,886 | 28,084 | 43,297 |
Total property and equipment, net | 3,925 | 4,390 | 4,032 |
Total net sales | 57,614 | 48,290 | |
Total income from operations | 10,368 | 9,991 | |
Intersegment Elimination | |||
Segment Reporting Information [Line Items] | |||
Total net sales | -3,613 | -2,410 | |
Total income from operations | ($353) | ($240) |
Schedule_of_Revenues_and_LongL
Schedule of Revenues and Long-Lived Assets, by Domestic and Foreign Operations Segment (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 30, 2015 | Apr. 30, 2014 | Jan. 31, 2015 |
Segment Reporting Information [Line Items] | |||
Total property and equipment, net | $899,324 | $836,244 | $889,232 |
Total net sales | 739,010 | 686,310 | |
Domestic Operations | |||
Segment Reporting Information [Line Items] | |||
Total property and equipment, net | 755,890 | 685,195 | 745,504 |
Total net sales | 649,718 | 600,913 | |
Foreign Operations | |||
Segment Reporting Information [Line Items] | |||
Total property and equipment, net | 143,434 | 151,049 | 143,728 |
Total net sales | $89,292 | $85,397 |